Best Board Practice®-certification procedure
Evaluation of management bodies according to the Corporate Governances basis with issuance of the Best Board Practice® Label
Corporate governance has gained in importance, both in the public sphere and in companies. Various events and deviations related to this theme point to the need for action. The Board of Directors/Board of Trustees/Management Board plays a central role in every company/organisation. The selection and composition of panels also has a decisive influence on the long-term success of the institution concerned. Organisations that can demonstrate compliance with the Best Board Practice® Label gain trust from shareholders/owners, investors, employees, customers, suppliers, government agencies and the public. The institution can demonstrate that its top governing body is carrying out its duties independently, professionally and comprehensively, and has implemented an efficient and effective management and control structure.
Best Board Practice® supports legal compliance, contributes to the ongoing improvement of corporate governance, reduces legal liability issues relating to executive bodies to a minimum, creates transparency and freedom of choice in all material issues and guarantees the professionalism, efficiency and effectiveness of the most senior management.
All top strategic management bodies of companies/organisations (Board of Directors, Board of Trustees, Management Board, etc.) are addressed, regardless of size and industry affiliation.
3 years - in order to maintain a continuous further development, an annual surveillance assessment and after a 3 years period, a re-assessment will be conducted.
The SQS certificate of conformity with Best Board Practice® has national recognition.
As a supplement to all operational level management systems.